Daily Market Outlook, February 6, 2023 “Asian equities are trading lower this morning as financial markets continued to digest Friday’s blow out jobs data, the stand out performer is the Nikkei as chatter regarding the next BoJ Chief hit the wires overnight, the widely viewed dovish Amamiya has reportedly been tapped for the top job, however, Japanese government officials were quick to refute the reports. Concerns of a resurgence in US-China tensions have done little to help the risk off tone following the ‘weather balloon’ incident across the US. US Secretary of State Blinken cancelled his trip to China in an overt response to the incident, though there are reports that the White House is still considering sending Secretary Blinken to China in a stamp of authority, demonstrating the United States political strength”Overnight News of NoteAsia Shares Slip Monday, Dollar Up As U.S. Rate Outlook ShiftsDollar On The Front Foot After Robust U.S. Jobs Data, Yen FaltersChina Traders Sell Most HK Stocks In 17 Months Amid PullbackBitcoin Not Ready To Soar As Investors Await Fed Chair Speech, More EarningsJapan Sounds Out BoJ Deputy Amamiya For Central Bank GovAmamiya Would Weigh On Yen, Be A Boost For Bonds, Analysts SayKuroda Defends BoJ's Stimulus As Best Way To Hit Inflation TargetAustralia, China Trade Ministers Hold First Meeting Since 2019Australian Inflation Gauge Rises To New Record To 6.4% In JanuaryECB's Visco Says Caution Warranted On Mon Policy TighteningUK Mortgages Set For Slowest Year Since 2011 As House Prices DipDollar On The Front Foot After Robust U.S. Jobs Data, Yen FaltersJGB Yields Rise Despite Report Dovish Amamiya To Become BoJ GovOil Steadies After Slump As IEA Points to Rising China DemandIEA: There Are Signs a Stronger China Rebound Will Boost OilOil Market Faces Production Issue In 2024, Goldman’s Currie SaysNewmont In $17 Billion Takeover Bid For Gold Miner NewcrestAdani Stock Rout Enters Third Week As Flagship Shelves Bond Sale(Sourced from Bloomberg, Reuters and other reliable financial news outlets)Technical & Trade ViewsSP500 Bias: Intraday Bullish Above Bearish Below 4095Primary support is 3990Primary objective is 4384Below 3980 opens 3910/0020 Day VWAP bullish, 5 Day VWAP bullishEURUSD Bias: Intraday Bullish Above Bearish below 1.0750Primary support is 1.0750Primary objective is 1.11Below 1.0730 opens 1.061020 Day VWAP bullish, 5 Day VWAP bearishGBPUSD Bias: Intraday Bullish Above Bearish below 1.21Primary support is 1.21Primary objective 1.19Above 1.2265 opens 1.239020 Day VWAP bearish, 5 Day VWAP bearishUSDJPY Bias: Intraday Bullish above Bearish Below 131.50Primary resistance is 132.30Primary objective is 125.00Above 133.00 opens 135.0020 Day VWAP bearish, 5 Day VWAP bearishAUDUSD Bias: Intraday Bullish Above Bearish below .7050Primary resistance is .7050Primary objective is .6750Above .7150 opens .725020 Day VWAP bearish, 5 Day bearish VWAPBTCUSD Intraday Bias: Bullish Above Bearish below 23200Primary support 22200Primary objective is 25000Below 21000 opens 2030020 Day VWAP bullish, 5 Day VWAP bullish
